On November 19, Taiwan Navigation placed an order with Oshima Shipbuilding for two 64,000 dwt Ultramax bulk carriers at a maximum cost of US$39 million each, with the total contract price not exceeding US$78 million.
The two bulk carriers, which are said to be powered by conventional marine fuels and comply with the International Maritime Organization’s Tier III NOx and EEDI Phase 3 standards, are expected to be delivered in 2028.
The said order is part of the company’s fleet renewal program, which is aimed at modernizing and upgrading its shipping assets, confirmed Taiwan Navigation staff.
It is understood that Taiwan Navigation has been continuing its newbuilding program in order to phase out existing vessels in its fleet that are currently older and to promote the company’s continued growth.In January this year, Taiwan Navigation signed a contract with Namura Shipbuilding of Japan for the construction of two 40,000 DWT bulk carriers, which are expected to be delivered in the second quarter of 2026.
Taiwan Navigation was established in 1946 and currently has 36 vessels in operation, which include bulk carriers, tankers and tugs. Taiwan Navigation was listed in June 1998 and transformed into a private company.